mavios
Giá lên

XRP/BTC Forming a text book cup and handle

BITFINEX:XRPBTC   Ripple / Bitcoin

Looking at 1 hour chart, Ripple has managed to break out from the descending and formed an ascending channel (red lines being the support and resistance lines for this channel).
It is currently forming a typical cup and handle pattern, with price looking to test 0.00013 BTC             level. Volume distribution and price levels confirms the pattern too

A trade can be initiated once the price break the 0.00118
Stop loss 0.000117

Target 0.00012617

Enjoy!
Bình luận: To confirm the patter, price have to break 0.00011816 BTC.
If breakout fails, expect another attempt.
This is not likely to play out well. A cup & handle takes a lot longer to form. In securities and the like, it takes months. In crypto, we shorten that a bit but even then, you're still looking at one or more weeks to form the pattern. I will watch this one and possibly place a buy order if it does pan out but for the moment, I'm doubting it. Maybe it will just be a really weak breakout if it does.

This was happening recently with Vibe. There was a textbook cup & handle that took over a week to form but it still never broke out of the handle. Thanks for the idea though.
Phản hồi
Not really a channel if you're only using one point to draw a line. (referring to upper channel line)
Phản hồi
mavios calmdownbro
@calmdownbro, Ascending channel is drawn using inside pitchfork with the appropriate rules (first point placed at same distance from all time high point and 17 jan low point, and placed mid way between their price level)
Phản hồi
mavios calmdownbro
@calmdownbro, a better screenshot with more accurate measurements for the channel
Phản hồi
@mavios, Okay I see now how you're coming up with that. Channels exist independently of the pitchfork tool and require(2 points) to be confirmed(See your yellow channel). I see that you're using the pitchfork as a speculative channel but what i see is simply a lower high. Fair enough, though thank you for showing me more of your thought process.
Phản hồi
mavios calmdownbro
@calmdownbro, Yeah you are absolutely right, I should have mentioned that it needs to be confirmed first. It's only my third post, hopefully I will do better in the future.. Good luck!
+1 Phản hồi
VI Tiếng Việt
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Trang chủ Sàng lọc cổ phiếu Bộ lọc Forex Screener Tiền điện tử Lịch kinh tế Cách thức hoạt động Tính năng Biểu đồ Quy tắc Áp dụng Người điều hành Giải pháp Website & Môi giới Widget Thư viện Biểu đồ Chứng khoán Yêu cầu tính năng Blog & Tin tức Câu hỏi thường gặp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh Hồ sơ Tài khoản và Thanh toán Ticket Hỗ trợ của tôi Liên hệ Hỗ trợ Các ý tưởng đã đăng Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất